Describe balanced exchange and its two major patterns, listing examples of each. How are these patterns associated with modes of livelihood?
What will be an ideal response?
Answer: The ideal answer will include:
1. Generalized reciprocity is exchange where little thought is given to what exactly will be given in return; it is expected that return will be given in some form, at some time.
2. An example might be buying a friend a cup of coffee.
3. Expected reciprocity is more formal; each party understands the goods being exchanged to be of roughly equal value, and a timeframe for the return is agreed upon.
4. One example is the kula network in the Trobriand Islands.
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